Club Méditerranée reports steady trading
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Club Méditerranée reports steady trading

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Revenue is up for Club Méditerranée's first quarter of its financial year 2001 (which began on 1 November 2000). Revenue reached 394.5 million Euros against 360.8 million Euros for the same period of the previous financial year, an increase of 9.3 per cent. Like-for-like and constant exchange rates growth was 6.2 per cent. The company says the increase stems from the growth in the group's activities in all geographic zones. However a slowdown has been confirmed in activities such as Jet tours which Club Méditerranée says is linked to the setting up of a new reservation system. Projects completed and in progress include the opening of six new villages in the Kingdom of Morocco in the next five years and the launch of OYYO, a new holiday concept for young people based around sport and music. The company has also signed a contract with France Telecom to outsource all its global telecommunications needs. Revenue growth is expected to be slower in the second quarter.

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Revenue is up for Club Méditerranée's first quarter of its financial year 2001 (which began on 1 November 2000).
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